[Video] Entrepreneur 2 Entrepreneur: Patrick Riley’s 10 Lessons Learned At Exit



Screen Shot 2016-04-27 at 8.48.19 AMMinnesota Tech Entrepreneur Patrick Riley and his partners Dan Riley + Don MacPherson bootstrapped Modern Survey to ~$6m and 43 employees before selling (undisclosed) to London-based human resources, insurance, and technology consulting firm Aon Hewitt in February.

He took the time to reflect on that at Minnebar last Saturday in a session titled: “10 lessons learned at the end that will help you at the beginning.”

We captured this gold for your enrichment:



#1 – Prepare, don’t react
#2 – Protocol is paramount: know your business vocabulary
#3 – Build a dream deal team, coach and listen
#4 – Build models for everything and own it
#5 – Prepare to move instantly from discretion to full transparency
#6 – Advocate for employees
#7 – Respect Maslow’s Hierarchy
#8 – There will be mourning, honor it
#9 – There is no vacation, stay healthy
#10 – in the end, it’s 25% idea, 25% timing, 50% execution